Chiefs QB Patrick Mahomes on starting to understand the offense

Kansas City Chiefs rookie quarterback Patrick Mahomes spoke after mandatory minicamp practice on Wednesday, June 14, 2017, about his progress over the last month in learning the complex Andy Reid offensive playbook.

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Kansas City Chiefs rookie quarterback Patrick Mahomes spoke after mandatory minicamp practice on Wednesday, June 14, 2017, about his progress over the last month in learning the complex Andy Reid offensive playbook.

First-round pick Patrick Mahomes signs contract with Chiefs

The Chiefs on Thursday signed their first-round draft pick, quarterback Patrick Mahomes II.

A source with knowledge of the situation said the four-year rookie contract is worth $16.4 million, with a $10 million signing bonus and a fifth-year option.

Mahomes, who played collegiately at Texas Tech, is expected to back up incumbent Alex Smith as a rookie this season. Smith is playing out the final year of his contract, and the Chiefs aren’t expected to re-sign him for 2018.

To get Mahomes, the Chiefs traded their first-round pick (No. 27), one of their two third-round picks this year (No. 91 overall), and their 2018 first-round pick to the Buffalo Bills.

Smith is 41-20 as the Chiefs’ starter the last four years, and head coach Andy Reid has indicated he will be the starter in 2017, too. But the Chiefs could save $17 million by releasing Smith next year.

The strong-armed Mahomes had a 41-10 touchdown-to-interception ratio in 2016 but is considered a raw prospect who needs time and more coaching in order to be ready to start in the NFL.

“Right now Patrick isn’t absolutely ready to play — he’s got some work to do,” Reid said after the draft. “He’s going into a great room … he can learn from Alex. We have to be patient with him. Tremendous upside. Good person, intelligent with great skill.

“We think they’re both really good football players. We just thought we with what we do, Mahomes would fit in well.”

Shortly after the signing, Mahomes’ agent, Leigh Steinberg, tweeted a photo of the two of them smiling at a desk, the contract laid out in front of them. The pact means all Chiefs players enter camp signed and ready to play.

The Kansas City Star's A-Team of Terez Paylor, Blair Kerkhoff, Sam Mellinger and Vahe Gregorian offered praise and critique of Chiefs new quarterback Patrick Mahomes II while watching game film from his days at Texas Tech during a Facebook Live br